Aluminium giant China Zhongwang denies US anti-dumping violation, accusation of “systematically and illegally” evading duties
China Zhongwang, the world’s second largest industrial aluminium extrusion manufacturer, rejected accusations by a US industry group of violating and evading US import duties, an exchange filing said on Tuesday.
The US Aluminum Extruders Council filed a petition last week to the US Department of Commerce against China Zhongwang, accusing the company “systematically and illegally” evaded duties on aluminium extrusions imported into the United States.
In its filing to the Hong Kong Exchange, China Zhongwang said it has always conducted its export business in accordance with product classification and other relevant rules set by Washington.
Aluminium extrusion is a processed aluminium product mainly used in transportation to build parts of railways, automobiles, shipbuilding and aviation.
China Zhongwang said their main export products such as deep processed products and 5050 alloy extrusions are not covered by the anti-dumping and countervailing policy on certain US imports of aluminium extrusion products from China set by the US Commerce Department in May 2011.
The stock price of Zhongwang fell 5 per cent on Monday to close at HK$3.29.